[hellcow]

A general rule of thumb is that you have 3 board members at the seed (1 non-CEO founder, the CEO which is typically another founder, and the lead investor). So you have 1 seat available for investors, whereas you may take 5-20 checks. Not everyone is getting a seat.

At the A you usually expand to 5, adding the lead of the A round and an independent board member. Beyond that, it’s common for the earlier investors to get replaced on the board in future rounds and maintain observer rights.

[algo_trader]

What happens if your "lead" angels want to put money but not a board seat?

[bcantrill]

If you are taking truly no institutional capital, it's a party round -- and unless you have a repeat founder that knows exactly what they're doing (and often even then!), it's a huge red flag.

[toomuchtodo]

https://techcrunch.com/2022/08/31/lets-talk-about-party-roun...